The banks and other financial stocks continued to lead the broader market lower. Today the BKX broke to a new all-time(!!) low by dropping below the 1993 low of 24.69. There’s really not much more to say besides “all-time lows” and “the trend is your friend”. The XLF also made a new all-time low today, [...]
Posted by 26 January 2009
January 26 Recap & Charts to Watch
The indices continued their range-bound trading today. The early strength gave way to selling mid-morning. I’m not sure whether to blame it on Obama’s economic press conference or technicals — the Nasdaq approaching its 50-day moving average and the indices hitting last week’s range tops. I suspect we will have more of this range trading [...]
Posted by 4 September 2008
